Dow up 700 points as S&P 500 hits new intraday high

Caterpillar stock popped 10% after a strong earnings report, while Meta and Microsoft stock fell on AI spending concerns

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The S&P 500 reached a new all-time intraday high on Thursday, while the Dow Jones Industrial Average added 730 points, or 1.5%. The Nasdaq $NDAQ Composite rose 0.2%.

Shares of Caterpillar $CAT surged 10%, providing the biggest lift to the Dow, after the heavy-equipment maker beat quarterly earnings expectations, lifted its full-year revenue guidance, and reinforced its reputation as a proxy for the health of the global economy.

Technology stocks moved in the opposite........

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